For persons born during the years 1943-1954, the full retirement age is 66.
If your full retirement age is 66, benefits will be reduced:
·25 percent at age 62;
·20 percent at age 63;
·131/3 percent at age 64; or
·6 2/3 percent at age 65
I became 66 last August the 10th, and I just last Friday received my first Social Security Check.It wasn’t much, because I was a teacher for 32 years and did not pay any SS, however, every little bit helps.I really don’t know why I received a check in the mail, when I applied for SS, I signed up for direct deposit.Guess I will have to go to the SS Web site and get that changed over.
By the way,when you decide to apply for SS,the easiest way is to go online at www.socialsecurity.gov/applyforbenefits. This is a lot easier than waiting in line at the local SS office.
-- Edited by Old Eagle on Sunday 9th of September 2012 10:57:12 PM
Thank you for your reply. I will be eligible to start drawing without penalty in 3/2013. Not sure of the advantages/consequences of either starting when I am eligible or waiting. I am in the decision making process but not aware of websites/calculators that would be helpful.
